Opening Bell: BSE Sensex & Nifty 50 Open Higher On May 2 Amid Global Cues; Sensex Rises 500 Points, Nifty Nears 24,430

After a holiday break for Maharashtra Day, Indian equity markets reopened on May with a Higher note, buoyed by positive global sentiments. The Sensex gained 449.34 points, or 0.56%, to trade at 80,691.58, while the Nifty advanced 94.75 points, or 0.39%, to 24,428.95.

Among the top gainers on the Nifty were Hindalco, Axis Bank, Reliance Industries, Maruti Suzuki , and Kotak Mahindra Bank. On the other hand, ONGC, Hero MotoCorp, Titan Company, Bajaj Finserv, and Tata Consumer were among the top laggards.

Market breadth was mixed, with 807 shares advancing, 640 declining, and 154 remaining unchanged.

Despite the green start, sentiment remained muted as investors braced for a day heavy on earnings reports and ongoing geopolitical tensions between India and Pakistan .
“FIIs have infused nearly Rs 37,500 crore over the last 10 sessions, lending strong support to the ongoing uptrend,” said Sugandha Sachdeva, Founder of SS WealthStreet. She added that April’s sharp 18% drop in crude oil prices helped alleviate inflation concerns, while the rupee’s 1.2% appreciation over the past two months has strengthened macroeconomic confidence.

April Ends on a Weak Note Despite Monthly Gains
The enthusiasm seen at the start of April faded in its final trading session. On April 30, the Sensex fell 190 points to close at 80,097.29, while the Nifty slipped 38.55 points to 24,297.40, dragged down by escalating border tensions.

Yet, April delivered a strong monthly performance, with the Nifty gaining 3.5%, propelled by robust foreign institutional inflows, a softer rupee, and lower oil prices.
Sectorally, Nifty Realty emerged as the top performer on April 30, rising 2%, even as broader indices reflected caution. The Nifty Media and PSU Bank indices dropped 2% each, and the BSE Midcap and Smallcap indices fell 0.5% and 1.4%, respectively — signaling unease among retail investors.

Among Nifty 50 stocks, Maruti Suzuki, HDFC Life, Bharti Airtel, SBI Life Insurance, and Power Grid Corp were the top gainers. On the losing end were Bajaj Finserv, Bajaj Finance, Trent, Tata Motors, and SBI.

Technical Outlook: Nifty Faces Key Resistance Levels
Despite bullish undertones, analysts expect near-term consolidation.
“While the broader trend remains positive, the Nifty is facing stiff resistance between 24,350–24,400. A breakout above this range could trigger the next rally toward 24,800,” said Sugandha Sachdeva.

Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan, added, “On the daily charts, the Nifty is consolidating in the range of 23,900–24,500 for the last five sessions. Minor pullbacks to 24,200–24,100 can be seen as buying opportunities. We maintain a positive stance with an upside target of 24,550.”

US Wall Street Recovers Amid Tech Volatility
Overnight, US stocks posted gains, with investors shrugging off earlier tariff concerns.
Dow Jones rose 83.60 points (0.21%) to 40,752.96
S&P 500 added 0.63% to 5,604.14
Nasdaq Composite jumped 1.52% to 17,710.74
 

The Nasdaq recovered losses from early April after optimism around artificial intelligence offset mixed corporate earnings. However, tech giants faced turbulence in extended trading. Apple ’s shares fell over 4% after disappointing Services revenue, while Amazon dropped 2% despite beating Q1 expectations, as soft forward guidance weighed on sentiment.

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Nifty Prediction Today: Will Markets Break Out Or Consolidate On May 2?

Asian Markets Follow Wall Street’s Lead; China Signals Trade Talks
Asian markets traded higher, tracking Wall Street’s gains and boosted by potential thawing in US-China trade relations. China announced it is evaluating the possibility of fresh trade talks with the U.S., offering some relief to jittery global investors.
Hang Seng Index climbed 1.35%
Hang Seng Tech Index surged 2.79%
Nikkei 225 (Japan) added 0.69%; Topix rose 0.16%
Kospi (South Korea) edged up 0.12%; Kosdaq gained 0.78%
S&P/ASX 200 (Australia) was up 0.88%
Chinese markets remained closed for the Labor Day holiday.

Outlook Ahead
With over 30 companies set to release Q4 earnings today, market direction is likely to be stock-specific. The optimism from April could face pressure from macroeconomic headwinds and geopolitical flare-ups, but sustained FII inflows and easing inflation could provide a cushion in the near term.